Pizza Express could lose 67 stores and 1,100 staff in restructuring move
- Credit: PA
Popular chain restaurant Pizza Express has today announced that around 67 stores could close, with 1,100 staff members affected.
The news comes as part of a restructing process at the company, as it seeks to balance the books in the wake of a devastating trading period due to the national coronavirus lockdown.
The chain has venues in Hitchin’s Market Place, Welwyn Garden City, Hatfield, St Albans and Harpenden, that could all face the axe, as up to 15 per cent of restaurants nationwide could go.
The confirmed list of restaurants that will shut is expected to be announced next week.
Citing the “unprecedented challenges presented by COVID-19,” the company will now undergo a period of restructuring that it hopes will ensure future growth.
You may also want to watch:
The dining chain said it plans to launch a Company’s Voluntary Arrangement (CVA) restructuring deal in the near future, in a move which could lead to the closure of 15 per cent of its 449 UK restaurants.
However, it stressed that the final outcome of the restructuring has “yet to be decided”.
- 1 Aldi eyes new Hertfordshire store locations
- 2 Harry Styles and Emma Corrin snap confirms 'My Policeman' filming at Hitchin pool
- 3 Have your say on proposals for 18 new flats on Kwik Fit site
- 4 Man arrested on suspicion of indecent exposure following incident near splash park
- 5 Yellow weather warning of thunderstorms in Herts
- 6 MBE is an incredible honour, says Lister nurse Lizzie
- 7 Stevenage lad donates 22 inches of hair to the Little Princess Trust
- 8 Freedom Day: Events to go ahead but hospitality will be affected, says BID manager
- 9 No further action for teen arrested in connection with Christopher Hewett murder investigation
- 10 Survivors Against Domestic Abuse opens 23rd safe space as demand for services rises